ECON 107 • Midterm I • Principles of Microeconomics

What is Economics and Opportunity Cost

Normative vs Positive Economics and Microeconomics vs Macroeconomics

Economic Way of Thinking

Marginalism Example

Production Possibilities Frontier

Question - Opportunity Cost and PPF

Question - Shift of PPF

Question - Shift of PPF

Comparative Advantage and Trade

Question - Absolute and Comparative Advantages I

Question - Opportunity Cost and PPF I

Question - Comparative Advantage I

Question - Comparative Advantage II

Question - Opportunity Cost and PPF II

Question - Opportunity Cost and PPF III

Question - Absolute and Comparative Advantages II

Demand

Question - Law of Demand

Change in Demand

Question - Change in Demand I

Question - Change in Demand II

Supply

Question - Law of Supply

Change in Supply

Question - Change in Supply I

Question - Change in Supply II

Market Equilibrium

Question - Market Equilibrium I

Question - Market Equilibrium II

Change in Market Equilibrium

Change in Market Equilibrium I

Question - Change in Market Equilibrium II

Question - Change in Demand III

Question - Shortage and Surplus

Question - Market Equilibrium, Shortage and Surplus

Question - Change in Market Equilibrium III

Question - Positive vs Normative Economics

Question - Positive vs Normative Economics II

Question - Opportunity Cost I

Question - Opportunity Cost II

Question - Opportunity Cost III

Question - PPC

Question - Opportunity Cost and PPF I

Question - Opportunity Cost and PPF II

Question - Absolute and Comparative Advantages I

Question - Trade

Question - Circular Flow

Question - Demand

Question - Change in Demand I

Question - Change in Demand II

Question - Law of Supply I

Question - Law of Supply II

Question - Change in Supply I

Question - Change in Supply II

Question - Change in Supply III

Question - Market Equilibrium I

Question - Market Equilibrium II

Question - Market Equilibrium III

Question - Market Equilibrium and Disequilibrium I

Question - Market Equilibrium and Disequilibrium II

Question - Market Equilibrium and Disequilibrium III

Question - Change in Market Equilibrium I

Question - Change in Market Equilibrium II

Question - Change in Market Equilibrium III

Question - Change in Market Equilibrium IV

Consumer Surplus

Question - Consumer Surplus

Producer Surplus

Question - Producer Surplus

Market Efficiency

Question - Market Equilibrium and Economic Surplus

Price Controls - Price Ceiling

Question - Price Ceiling

Price Controls - Price Floor

Question - Price Floor

Quantity Controls - Quota

Question - Quota

Taxes

Question - Taxes

International Trade and Tariffs

Question - International Trade

Question - International Trade and Tariff

Question - Consumer Surplus II

Question - Consumer Surplus III

Question - Social Surplus

Question - Price Ceiling and Floor

Price Elasticity of Demand

Question - Price Elasticity of Demand I

Question - Price Elasticity of Demand II

Question - Price Elasticity of Demand III

Types of Price Elasticity of Demand

Question - Types of Price Elasticity of Demand I

Question - Types of Price Elasticity of Demand II

Demand Curves and Price Elasticity of Demand

Price Elasticity of Demand and Total Revenue

Question - Price Elasticity of Demand and Total Revenue I

Question - Price Elasticity of Demand and Total Revenue II

Determinants of Price Elasticity of Demand

Question - Determinants of Price Elasticity of Demand I

Question - Determinants of Price Elasticity of Demand II

Income Elasticity of Demand

Question - Income Elasticity of Demand

Question - Income Elasticity of Demand II

Cross Price Elasticity of Demand

Question - Cross Price Elasticity of Demand I

Question - Cross Price Elasticity of Demand II

Price Elasticity of Supply

Question - Price Elasticity of Supply

Tax Burden (Incidence)

Question - Price Elasticity of Demand II

Question - Price Elasticity of Demand and Total Revenue II

Question - Income and Price Elasticity of Demand I

Question - Income and Price Elasticity of Demand II

Question - Price Elasticity of Demand I

Question - Price Elasticity of Demand II

Question - Price Elasticity of Demand III

Question - Price Elasticity of Demand IV

Question - Price Elasticity of Demand V

Question - Income Elasticity of Demand I

Question - Income Elasticity of Demand II

Question - Income Elasticity of Demand III

Question - Cross Price Elasticity of Demand I

Question - Cross Price Elasticity of Demand II

Question - Cross Price Elasticity of Demand III

Question - Cross Price Elasticity of Demand IV

Question - Consumer Surplus I

Question - Economic Surplus

Question - Price Ceiling

Question - Price Floor I

Question - Price Floor II

Question - Price Ceiling and Floor I

Question - Price Ceiling and Floor II

Question - Price Ceiling and Floor III

Question - Elasticities

Question - Market Equilibrium and Price Setting

Question - Change in Demand and Supply

Question - Absolute and Comparative Advantages

Question - Effects of Tax